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Procedure for Increase in Authorised capital of Company

Authorised Share Capital is the maximum amount of the capital for which shares can be issued by the Company to shareholders, it is the capital mentioned in the Memorandum of Association of the Company under heading of ‘Capital Clause.’ As per Section 2(8) of the Companies Act, 2013 “Authorised capital or Nominal Capital” m...

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Posted Under: Company Law |

Composite Supply or a Mixed Supply (Section 8 of CGST Act)

In the normal course of business, when a person supply any good or service to another person then he will charge/collect the GST tax at the rate mentioned in the Act. However, at the time of combination supply of two or more goods/services or both most person are in the dilemma that whether this particular […]...

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Posted Under: Company Law |

Corporate Social Responsibility (CSR)- Section 135

CORPORATE SOCIAL RESPONSIBILITY (CSR) UNDER SECTION 135 OF THE COMPANIES ACT, 2013 READ WITH THE COMPANIES (CORPORATE SOCIAL RESPONSIBILITY POLICY) RULES, 2014 WHAT IS THE CSR? CSR is a Concept whereby Companies not only consider their profitability and growth, but also the interests of society and the environment – by taking respon...

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Posted Under: Company Law |

Assessee eligible for TDS deducted on Income collected on behalf of Govt.

Council of Handicrafts Development Corporation Vs ITO (ITAT Delhi)

The issue under consideration is whether A.O. is correct in denial of credit of TDS on rental income collected by the appellant under an agreement on behalf of Government?...

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Relief Measures under ESIC For Covid-19 Pandemic

Relief Measures Under Employees State Insurance Act 1948 (ESIC) For Covid-19 Pandemic Employees State Insurance Corporation (ESIC) has given the following reliefs to the employees covered under the ESI Act for the Covid-19 Pandemic. 1. Whether Covid-19 sickness covered under ESI? ESIC has not specifically come up with notification stating...

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Posted Under: Company Law |

Reverse charge on Legal Charges under GST

Service Tax on Legal Consultancy service was introduced on 01.09.2009 by the Finance (No. 2) Act 2009. The concept of reverse charge was introduced in the erstwhile service tax regime w.e.f. 01.07.2012 wherein the tax has been paid by the recipient on the services received. Now, this concept has also been incorporated under GST wherein [&...

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Posted Under: Company Law |

FAQs on Statutory Registers under Companies Act 2013

Q.1 What are Statutory Registers?  Ans: Statutory Books are the official records kept by the company relating to all legal and statutory matters. The registers that contain the specific record of the company’s shareholders, directors, deposits, loan & guaranty, etc. Q. 2 What are the examples of Statutory Registers? Ans: 1. Re...

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Posted Under: Company Law |

Restrictions on Powers of Board | Section 180 | Companies Act, 2013

Analysis On Section 180 (Restrictions On Powers of Board) of Chapter XII of The Companies Act, 2013 Section 180(1) is talking about the following powers which can’t be exercised by the Board of Directors (Board) without passing special resolution in the general meeting of the members of the Company : (a) To sell, lease or […]...

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Posted Under: Company Law |

What Taxes shall you pay for Financial Year 2019-2020 – A complete tax guide for income tax computation

What Taxes shall you pay for Financial Year 2019-2020 – A complete tax guide for income tax computation In India, every year, the Finance Minister announces an annual Union Budget for the up-coming financial year. According to Article 112 of the Indian Constitution, the Union Budget of a year (referred to as the annual financial [&h...

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Posted Under: Company Law |

What are the Benefits of Using a Home Loan EMI Calculator?

Are you thinking of buying a house with the help of a home loan? If yes, then it is a good idea to calculate your EMI amount before signing on the dotted line. A useful tool such as the home loan EMI calculator can help you out with this. What Is a Home Loan EMI […]...

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Posted Under: Company Law |

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